Billionaire Mario Gabelli’s 10 Large-Cap Stock Picks with Huge Upside Potential

8. QUALCOMM Incorporated (NASDAQ:QCOM)

Gamco Investors Equity Stake: $1.72 Million

Market Capitalization as of May 5: $152.09 Billion

Stock Upside Potential as of May 5: 33.15%

Number of Hedge Fund Holders: 79

QUALCOMM Incorporated (NASDAQ:QCOM) is a technology company that develops and commercializes foundational technologies for the wireless industry worldwide. It develops and manufactures chips for wireless telecommunications, including mobile phones, computers, tablets, and cars. It is one of Billionaire Mario Gabelli’s 10 large-cap stock picks with tremendous upside potential as a key supplier of chips such as smartphone modems and processors.

QUALCOMM Incorporated (NASDAQ:QCOM) delivered fiscal second quarter 2025 results that topped analysts’ estimates as it increasingly benefited from chip sales that showed strong growth. Revenue came in at $10.84 billion against $10.66 billion expected as earnings per share rose to $2.85 against $2.82 expected. While handset chip sales surged 12% to $6.93 billion, Qualcomm is increasingly working on selling more chips for cars through its automotive business. Sales in the segment were up 59% to $959 million.

QUALCOMM Incorporated (NASDAQ:QCOM) is also working on selling more chips for virtual reality headsets and more for Windows PCs under its Internet of Things. The push is part of a diversification strategy and a continued focus on areas likely to drive long-term value. Likewise, the stock sentiments received a boost on the chip giant, reiterating that it does not expect any material impact from tariffs. Consequently, Susquehanna has reiterated a Buy rating on the stock amid the favorable tailwinds, even cutting the price target to $190 from $210.